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Chase Bank Cheats, Class Claims

SAN FRANCISCO (CN) - A federal class action claims Chase Bank offered its credit card holders fixed rates for the life of their loans on "balance transfers" - debts transferred to the Chase Bank card from other credit cards - then changed the deal and started billing their accounts $10 per month in January.

The class consists of all those who accepted Chase's balance transfer offer since Feb. 5, 2005. It seeks restitution and damages for breach of contract and unfair business practices. Its lead counsel is Michael Braun of Santa Monica.

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